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Britain's Industrial Future
''Britain's Industrial Future'', commonly known as the Yellow Book, was the report of the British Liberal Party's Industrial Inquiry of 1928. Background The British economy had been in a depressed state since the end of the boom that had occurred immediately after the Great War. The War had disrupted her old trading patterns and had caused other countries to develop their own industries.C. L. Mowat, ''Britain Between the Wars, 1918–1940'' (London: Methuen, 1955), p. 259. Britain's staple industries (coal, iron, steel, shipbuilding, textiles) had provided most of her exports before the War and these were the hardest hit by the post-war depression. C. L. Mowat claimed that throughout the 1920s "Britain's industrial machine was throttled down; the world's workshop worked on short time".Mowat, p. 260. Unemployment was concentrated in the staple industries and the number of those out of work never went below one million. While imports were above the pre-war figure, exports never exce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Simon, 1st Viscount Simon
John Allsebrook Simon, 1st Viscount Simon, (28 February 1873 – 11 January 1954), was a British politician who held senior Cabinet posts from the beginning of the First World War to the end of the Second World War. He is one of only three people to have served as Home Secretary, Foreign Secretary and Chancellor of the Exchequer, the others being Rab Butler and James Callaghan. He also served as Lord Chancellor, the most senior position in the British legal system. Beginning his career as a Liberal (identified initially with the left wing but later with the right wing of the party), he joined the National Government in 1931, creating the Liberal National Party in the process. At the end of his career, he was essentially a Conservative. Background and education Simon was born in a terraced house on Moss Side, Manchester, the eldest child and only son of Edwin Simon (1843–1920) and wife Fanny Allsebrook (1846–1936). His father was a Congregationalist minister, like three o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Site-value Taxation
A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements. It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating. Land value taxes are generally favored by economists as they do not cause economic inefficiency, and reduce inequality. A land value tax is a progressive tax, in that the tax burden falls on land owners, because land ownership is correlated with wealth and income. The land value tax has been referred to as "the perfect tax" and the economic efficiency of a land value tax has been accepted since the eighteenth century. Economists since Adam Smith and David Ricardo have advocated this tax because it does not hurt economic activity or discourage or subsidize development. LVT is associated with Henry George, whose ideology became known as Georgism. George argued that taxing the land value is most logical source of public reven ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Afforestation
Afforestation is the establishment of a forest or stand of trees (forestation) in an area where there was no previous tree cover. Many government and non-governmental organizations directly engage in afforestation programs to create forests and increase carbon capture. Afforestation is an increasingly sought-after method to fight climate concerns, as it is known to increase the soil quality and organic carbon levels into the soil, avoiding desertification. Afforestation is mainly done for conservational and commercial purposes. # The rate of net forest loss decreased substantially over the period 1990–2020 due to a reduction in deforestation in some countries, plus increases in forest area in others through afforestation and the natural expansion of forests. A 2019 study of the global potential for tree restoration showed that there is space for at least 9 million km2 of new forests worldwide, which is a 25% increase from current conditions. This forested area could store up ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electrification
Electrification is the process of powering by electricity and, in many contexts, the introduction of such power by changing over from an earlier power source. The broad meaning of the term, such as in the history of technology, economic history, and economic development, usually applies to a region or national economy. Broadly speaking, electrification was the build-out of the electricity generation and electric power distribution systems that occurred in Britain, the United States, and other now- developed countries from the mid-1880s until around 1950 and is still in progress in rural areas in some developing countries. This included the transition in manufacturing from line shaft and belt drive using steam engines and water power to electric motors. The electrification of particular sectors of the economy is called by terms such as ''factory electrification'', ''household electrification'', ''rural electrification'', ''aviation electrification'' or ''railway electrificati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slum Clearance In The United Kingdom
Slum clearance in the United Kingdom has been used as an urban renewal strategy to transform low income settlements with poor reputation into another type of development or housing. Early mass clearances took place in the country's northern cities. Starting from 1930, councils were expected to prepare plans to clear slum dwellings, although progress stalled upon the onset of World War II. Clearance of slum areas resumed and increased after the war, while the 1960s saw the largest number of house renewal schemes pursued by local authorities, particularly in Manchester where it was reported around 27% 'may' have been unfit for human habitation - Although the majority were well built solid structures which could have been renovated or repurposed; housing, churches, schools and pubs which formed close-knit communities were devastated, with families dispersed across other areas. Towards the end of the decade, a housing act in 1969 provided financial encouragement for authorities and la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Works
Public works are a broad category of infrastructure projects, financed and constructed by the government, for recreational, employment, and health and safety uses in the greater community. They include public buildings ( municipal buildings, schools, and hospitals), transport infrastructure (roads, railroads, bridges, pipelines, canals, ports, and airports), public spaces (public squares, parks, and beaches), public services (water supply and treatment, sewage treatment, electrical grid, and dams), and other, usually long-term, physical assets and facilities. Though often interchangeable with public infrastructure and public capital, public works does not necessarily carry an economic component, thereby being a broader term. Public works has been encouraged since antiquity. For example, the Roman emperor Nero encouraged the construction of various infrastructure projects during widespread deflation. Overview Public works is a multi-dimensional concept in economics and poli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Progressive Tax
A progressive tax is a tax in which the tax rate increases as the taxable amount increases.Sommerfeld, Ray M., Silvia A. Madeo, Kenneth E. Anderson, Betty R. Jackson (1992), ''Concepts of Taxation'', Dryden Press: Fort Worth, TX The term ''progressive'' refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit Sharing
Profit sharing is various incentive plans introduced by businesses that provide direct or indirect payments to employees that depend on company's profitability in addition to employees' regular salary and bonuses. In publicly traded companies these plans typically amount to allocation of shares to employees. The profit sharing plans are based on predetermined economic sharing rules that define the split of gains between the company as a principal and the employee as an agent.Moffatt, Mike. (2008) About.com Sharing Rule' Economics Glossary; Terms Beginning with S. Accessed June 19, 2008. For example, suppose the profits are x, which might be a random variable. Before knowing the profits, the principal and agent might agree on a sharing rule s(x). Here, the agent will receive s(x) and the principal will receive the residual gain x-s(x). Profit-sharing tends to lead to less conflict and more cooperation between labor and their employers. History Profit sharing has been common amon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationalisation
Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or to assets owned by lower levels of government (such as municipalities) being transferred to the state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include the commanding heights of the economy – telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water – though, in many jurisdictions, many such entities have no history of private ownership. Nationalization may occur with or without financial compensation to the former owners. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimum Wage
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by automating job functions. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops, by employers who were thought to have unfair bargaining power over them. Over time, minimum wages came to be seen as a way to help lower-income families. Modern national laws enforcing compulsory union membership which prescribed minimum wages for their members were first passed in New Zealand in 1894. Although minimum wage laws are now in effect in many jurisdictions, differences of opinion exist about the benefit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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